In daily life, we often encounter some phenomena such as limit offering, limited editions. Many of these phenomena are the ‘hunger marketing’. The aim of hunger marketing is to influence the final price of a product by adjusting the demand-supply relationship. A famous example is Apple published the new iPhone 7/ 7 Plus with limited Jet Black color. It inspired many people’s buying desire, and caused the demands far excess the supply.
Picture Sources: http://metro.co.uk/2013/09/21/iphone-5s-sale-madness-homeless-recruited-to-stand-in-line-as-handset-hits-ebay-for-2000-4061451/
In hunger marketing, marketer will attract potential customers by providing a excellent lower price, and then limit supply, in order to create a illusion demand exceeds supply. At the end, the marketer could increasing sale price. What’s more, good hunger marketing can give a high added value to a brand. However, excessive hunger marketing will ‘sent’ consumers to rivals and harm consumers’ brand recognition. Thus, companies should balance the strategies to attract their customers in an efficient way.
Reading more on https://lusisite.wordpress.com/2015/10/10/hunger-marketing-a-sustainable-way-3/
Jing On Marketing 